The growth of the Internet in early 2000 opened the era of new technological innovation called the “venture boom”. Of course, it caused such problems as the dotcom bubble, but as a result, it has become a page in the history as the “Third Industrial Revolution”. Now when in less than 20 years, the society has again entered the era of the "Fourth Industrial Revolution". Many Blockchain technologies are currently being developed and major companies as well as start-up companies are carrying out ICOs with their own various technologies and know-hows. The entire society is witnessing with its own eyes the fast growth of this unique industry and market in somewhat similar or somewhat faster pace than that of the semiconductor market or the SMART phone market. However, the cold reality is that most countries have not even settled into the basic legal framework regarding the ICO, and it has only been recently that lawmakers are now establishing a consensus in the general regulatory direction in this market.